Bill Text: IL HB5342 | 2011-2012 | 97th General Assembly | Amended
Bill Title: Amends the Corporate Accountability for Tax Expenditures Act. Provides that the Department of Commerce and Economic Opportunity shall post on its website (i) the identity of each recipient from whom amounts were recaptured, (ii) the amount recaptured, and (iii) the identity of each recipient receiving a waiver of the recapture provisions.
Spectrum: Strong Partisan Bill (Democrat 19-1)
Status: (Failed) 2013-01-08 - Session Sine Die [HB5342 Detail]
Download: Illinois-2011-HB5342-Amended.html
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| 1 | AMENDMENT TO HOUSE BILL 5342
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| 2 | AMENDMENT NO. ______. Amend House Bill 5342, AS AMENDED, | ||||||
| 3 | with reference to page and line numbers of Senate Amendment No. | ||||||
| 4 | 1, on page 12, by replacing lines 9 through 14 with the | ||||||
| 5 | following:
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| 6 | "State Treasury. On July 1, 2012, and by July 1 of each year | ||||||
| 7 | thereafter, the State Comptroller shall order transferred and | ||||||
| 8 | the State Treasurer shall transfer the sum of $100,000,000 from | ||||||
| 9 | the General Revenue Fund to the Education Assistance Fund. This | ||||||
| 10 | transfer is a result of the changes made to Section 1501 of | ||||||
| 11 | this Act by this amendatory Act of the 97th General Assembly. | ||||||
| 12 | Beginning July 1, 1991,
and continuing through January"; and
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| 13 | on page 63, by replacing lines 5 through 13 with the following: | ||||||
| 14 | "used in this paragraph, for taxable years ending | ||||||
| 15 | before December 31, 2012, the phrase "United States" | ||||||
| 16 | means only the 50 states and the District of Columbia, | ||||||
| 17 | but does not include any territory or possession of the | ||||||
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| 1 | United States or any area over which the United States | ||||||
| 2 | has asserted jurisdiction or claimed exclusive rights | ||||||
| 3 | with respect to the exploration for or exploitation of | ||||||
| 4 | natural resources. For taxable years ending on or after | ||||||
| 5 | December 31, 2012, the phrase "United States" means | ||||||
| 6 | only the 50 states, the District of Columbia, and any | ||||||
| 7 | area over which the United States has asserted | ||||||
| 8 | jurisdiction or claimed exclusive rights with respect | ||||||
| 9 | to the exploration for or exploitation of natural | ||||||
| 10 | resources, but does not include any territory or | ||||||
| 11 | possession of the United States.".
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